Two news agencies facing different fates

What's the difference between the national news agencies of Canada and New Zealand? According to a Nieman Journalism Lab article, the former has a future and the latter does not.

The reason: the Canadian Press has transformed from a not-for-profit outfit into a profit-seeking one while the New Zealand Press Association has stuck to its co-operative ownership structure and looks likely to close.

The latter's problems stem from the decision of the two Australian-based chains - Fairfax Media and APN News & Media - to pull out.

Does this mean national news agencies are a relic of the past in the age of globalised and concentrated media?

Academic Grant Hannis says yes: "Previously, news agencies were as much about monopolising the news as anything.

"Where they were relics, they had to — and did — seek to reinvent themselves, such as in the case of Reuters. Where they can provide genuine value, they will survive in the modern marketplace."